THSRCTaiwan High-Speed Rail Corporation
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Yao-Chung Chiang, Chairman of THSRC commented, As a listed company, we will strive to create shareholder value and be a leading corporate citizen, providing an efficient and safe transport system to our customers, as well as employment opportunities to the community.
Ou remarked that the current depreciation period is unreasonable, since the facilities of the high-speed rail can last at least 70 years, making it very difficult for THSRC to make money and barring the influx of new capital.
In September 2005, THSRC announced a one-year delay in the launch, which triggered deep concerns over problematic adjustment of the Japanese Shinkansen bullet train system to European specifications.
The trainees will become instructors, and with the participation and supervision of TSC, these instructors will train other THSRC personnel,'' the Taiwan company said.
THSRC and the Taiwan bullet train consortium, which groups the Japanese makers of the train system, were expected to sign a memorandum of understanding for the purchase of the bullet trains in February, but contract negotiations concerning Japanese loans and investment in the project have stalled.
A competitor of the THSRC, the China Development Company, filed several complaints with the MOTC and challenged the fairness of the bidding process on Oct.
Without test runs, we cannot ascertain the safety of the route connected with Japanese and German tracks of different specifications,'' said Takashi Shima, a former Japanese National Railways engineer and an adviser to the THSRC.
violates an earlier agreement signed with THSRC and Eurotrain filed an injunction request with the Taipei District Court earlier this month to halt discussions between THSRC and the Japanese group.
During the month THSRC carried three million and seven thousand passengers, or an average of 108,000 passengers daily, for a passenger-carrying rate of 52%, a new high since THSR began more daily train service about two years ago.
THSRC won the NT$440 billion contract in 1998 to build the rail system under Taiwan's largest ever build-operate-transfer project, under which the entire system will be managed by the company for 35 years before it is turned over to state control.
The CreditWatch revision reflects the progress made by THSRC to realize its refinancing plan.